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SearchBloomberg and Forbes put his fortune above US$1 trillion, driven by SpaceX’s recovery and Tesla’s gains. The figures are estimates sensitive to market volatility.
Elon Musk once again surpassed the US$1 trillion estimated-wealth threshold after SpaceX and Tesla shares rallied. The advance returned him to a position he had first reached in June, when SpaceX’s stock market debut raised the value attributed to his holdings.
Estimates published on Tuesday, October 6, differ slightly depending on the source and calculation time. Bloomberg put his fortune at around US$1.04 trillion, while Forbes estimated it at US$1.046 trillion. In this context, “trillion” means one million million dollars, that is, a trillion in the Anglo-Saxon numbering scale.
SpaceX’s share price was the main driver. According to news reports, its shares rose nearly 7% on Monday, October 5, and were up approximately 66% from the low recorded in mid-summer. The stock, which had fallen below the US$135 price set for its initial public offering, closed at US$171.09, according to La Nación. Cinco Días reported a share price of US$173.
The earlier correction came amid concerns about the company’s expansion costs, including its investments in artificial intelligence-related infrastructure. The recovery erased part of that decline, but did not eliminate volatility: the price remained below the highs reached after its stock market debut.
Musk’s stake magnifies the effect of these movements on his estimated wealth. La Nación, based on documents filed by the company, calculated that he owns about 4.76 billion shares and options on another 352.5 million shares. At the US$171.09 closing price, the shares alone would represent a market value of close to US$814 billion. That figure is a stock market valuation, not necessarily the amount that could be raised by selling the stake.
The rally coincided with a favorable recommendation from Morgan Stanley. The firm reiterated its overweight stance on SpaceX and set a price target of US$300 per share. Analyst Adam Jonas argued that the company offers exposure to opportunities in the space and artificial intelligence sectors, and pointed to potential milestones that, in his view, could help investors assess its potential.
That price target expresses an analyst’s opinion and does not predict a certain outcome. Cinco Días also noted that Morgan Stanley played a prominent role in SpaceX’s stock market debut, a relevant context when interpreting its valuation. The actual share price may diverge from projections and is subject to changes in expectations and market conditions.
Tesla shares provided another boost. Infobae reported that the stock gained around 5% on Friday, October 2, after the company reported quarterly deliveries of 486,532 vehicles, above analysts’ estimates. Cinco Días added that Tesla shares had risen 7% during the week covered in its report.
Musk’s fortune, therefore, does not depend on a single asset: SpaceX’s movement had the greatest impact in this episode, but Tesla’s performance also affected the calculations. The concentration of a substantial portion of his wealth in these companies means that estimates can change quickly when their share prices move.
Bloomberg and Forbes’s figures are estimates of wealth, not a measure of available cash. Their calculations may include stakes, options and other assets, and depend on the prices and criteria used by each index. The return above US$1 trillion therefore describes a valuation at a specific moment and does not guarantee that the fortune will remain above that threshold.
The episode also illustrates how the share prices of fast-growing companies can abruptly change the rankings of the wealthiest people. In Musk’s case, the published data keep him well ahead of other businesspeople, although the exact gap varies by source and reference date.
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